Turnkey Restaurant in
For Sale
$794,000
6500 Brevard Road, Etowah, NC 28729
Well-established restaurant with high visibility and rental income potential.
Property Size4,350 SF
Price / SF$182.53
Days on Market376
Property Features for 6500 Brevard Road
General Information
Standard status
Active
Size
4,350 SF
Property subtype
Commercial
Amenities
Central air
Composition Roof
Heat Pump Cooling
Heat Pump Heating
Level
Parking Lot
Paved
Building Details
Year Built
1963
Listing Agency:
H SCOTT & ASSOCIATES
(828) 884-9000
Listed By:
HEATHER SCOTT · License #249224
Source:
Corcoran
Added: Aug 11, 2025
Changed: Aug 20
Last Checked: Aug 20 at 6:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of H SCOTT & ASSOCIATES
Investment Insights
Based on property information with market context.
This well-established restaurant is located in the heart of Etowah, offering prime visibility from Brevard Road and featuring 225 ft of road frontage. The turnkey property is sold with all restaurant furnishings and appliances, making it ready for immediate operation. The spacious main level includes a welcoming dining area and a fully equipped kitchen. Ample parking is available for guests. The lower level presents excellent potential for additional rental income, enhancing its investment appeal. The property size is 4350 square feet. This high-visibility property is located in a growing area and offers endless possibilities.
Key Highlights
- Turnkey restaurant with all furnishings and appliances included for immediate operation.
- Prime location in the heart of Etowah with high visibility from Brevard Road and 225 ft of road frontage.
- Excellent potential for additional rental income from the lower level.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,609
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,152,180
$1.2M
Cap Rate 7%
$822,986
$823.0K
Cap Rate 9%
$640,100
$640.1K
Market Conditions
NOI Build-Up for 4,350 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.3K $18.00/SF
− Vacancy
−$1.5K −$0.34/SF
EGI
$76.8K $17.66/SF
− OpEx
−$19.2K −$4.41/SF
NOI
$57.6K $13.24/SF
Area
Henderson County, NC
Vacancy
1.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,152,180
Cap Rate 7%
$822,986
Cap Rate 9%
$640,100
Alternative Uses
Best Use
Specialty Retail
$823.0K
$720.1K – $960.2K
NOI $57,609 @ 7.0% cap · market cap 7.26%
Second Best
Retail
$768.1K
$672.1K – $896.2K
NOI $53,769 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,477 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
32k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 63%
Shops & Services 30%
Dining 7%
Ingles
Groceries
20,374 visits/mo
0.2 miles
Dollar General
Shops & Services
4,881 visits/mo
0.3 miles
Citgo
Shops & Services
2,780 visits/mo
0.2 miles
Domino's Pizza
Dining
2,403 visits/mo
0.1 miles
United Community Bank
Shops & Services
1,953 visits/mo
0.3 miles
Demographics for 28729, NC
2,923
Population
1,544
Households
1.9
Avg Household Size
55
Median Age
30%
College-Educated
96%
High-School Grad
4.2 sq mi
ZIP Area
696
Density / Sq Mi
$81,326
Median Household Income
$29,583
Median Earnings
$1,654
Median Rent
$305,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - Well-established restaurant with high visibility and rental income potential.
Where is this restaurant located?
The property is located at 6500 Brevard Road Etowah, NC.
What is the asking price?
The asking price for this property is $794,000.
What are key features of this property?
This property features: Turnkey restaurant with all furnishings and appliances included for immediate operation.; Prime location in the heart of Etowah with high visibility from Brevard Road and 225 ft of road frontage.; Excellent potential for additional rental income from the lower level.
